Is First National Bank of Omaha a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by First National Bank of Omaha to those of other lenders for a comparable set of borrowers. Here is our review of First National Bank of Omaha nationally:
|Review Item||First National Bank of Omaha|
|Interest Rate||similar to other lenders (-0.05%)|
|Loan Related Closing Costs||lower than other lenders (-$361)|
|National Rate and Closing Cost Star Rating||(4)|
On average, First National Bank of Omaha’s interest rates were similar to those of other lenders (-0.05%). On the other hand, its loan related closing costs were lower than those of other lenders, with a difference of -$361. Overall, combining interest rates and closing costs we estimate that First National Bank of Omaha tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 4 out of 5 stars.
We maintain our independence by not accepting any money from the mortgage lenders we review. To visit First National Bank of Omaha, check out its website at: https://www.fnbo.com.
First National Bank of Omaha’s Rate Review by City
Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders by city, click here. In particular, among the cities we track First National Bank of Omaha was most active in:
In addition, First National Bank of Omaha is our top ranked/best mortgage lender in terms of interest rate and closing costs in:
- Omaha, NE, for FHA mortgages
- Kearney, NE, for VA mortgages
First National Bank of Omaha’s Rate Review by Mortgage Type
Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, First National Bank of Omaha originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases and refinances. Its average interest rate and total loan related closing cost difference relative to other lenders by mortgages type is as follows.
|New Purchase Mortgages||Conforming||FHA||Jumbo||USDA||VA|
|Interest Rate Difference||-0.06%||-0.13%||+0.01%||+0.00%||-0.09%|
|Loan Related Closing Cost Difference||-$325||-$265||+$24||-$80||-$140|
|Cost Adjusted Rate Difference||-0.08%||-0.15%||+0.01%||-0.01%||-0.10%|
|National Star Rating|
|Interest Rate Difference||-0.01%||-0.09%||+0.01%||+0.00%||-0.06%|
|Loan Related Closing Cost Difference||-$488||-$283||-$6||+$0||-$440|
|Cost Adjusted Rate Difference||-0.05%||-0.12%||+0.01%||+0.00%||-0.10%|
|Average Star Rating|
As a summary, First National Bank of Omaha is cheap for Conforming, FHA and VA purchase mortgages. It is similar to other lenders for Jumbo and USDA purchase mortgages. For refinancing, First National Bank of Omaha is cheap for Conforming, FHA and VA mortgage refinance. It is similar to other lenders for Jumbo and USDA mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.
Other information about First National Bank of Omaha:
Registered city and state: OMAHA, NE, 68197
Regulator: Consumer Financial Protection Bureau (CFPB)
Top holder: LAURITZEN CORPORATION
* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for First National Bank of Omaha’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.